PSG block Ancelotti's exit amid Real Madrid rumors

Italian coach Carlo Ancelotti joined Paris Saint-Germain in December 2011.

Story highlights

Paris Saint-Germain coach Carlo Ancelotti wishes to leave the French club

Ancelotti has been linked with a move to Real Madrid

Current Real coach Jose Mourinho under pressure after a turbulent season

Mourinho is rumored to be heading back to former club Chelsea

The celebrations of Paris Saint-Germain's first French title in 19 years have only just finished but the Qatari-owned club already face a fight to keep hold of one of the their most valuable assets -- manager Carlo Ancelotti.

On Sunday, Ancelotti confirmed at the French Ligue 1's end of season awards, where he was named coach of the year, that he has asked to leave the Parc des Princes.

Ancelotti is rumored to be a key figure in a game of managerial musical chairs which could see the Italian move to Real Madrid to replace Jose Mourinho, who is reportedly on the brink of a return to former club Chelsea.

A 2-1 defeat to Atletico Madrid in last Friday's Copa del Rey final, Real's first loss to their neighbors in 14 years, is thought to have been the last straw, with newspaper El Mundo reporting Mourinho will be sacked - possibly during this week.

Real are certain to finish second in the Spanish First Division and sit 13 points behind champions Barcelona with just fixtures against Real Sociedad and Osasuna remaining.

Mourinho is favorite to fill the current vacancy at Chelsea, where he won two English Premier League titles and one FA Cup between 2004 and 2007.

Spain's Rafael Benitez acted as interim Chelsea manager from November, leading the club to Europa League triumph and a third-place finish the league.

But Mourinho's name has been sung heartily by Chelsea fans at every recent match, with the Stamford Bridge faithful eager for the return of the coach known as "The Special One."